Remote, the human resources platform for distributed companies, has selected Nium, a provider of real-time cross-border payments, to enhance its international payroll capabilities. The partnership will be launched globally.
As more businesses look at new markets to power growth, the ability to hire and scale across borders is rapidly becoming a key differentiator. But for global companies, managing multi-country payroll can be complex, with local compliance, technology, and cultural norms to navigate. As workforces expand internationally, even more difficult challenges arise creating a scalable, secure, and reliable international payroll model – without incurring excessive foreign exchange (FX) or transaction costs, significant risk, and back-office inefficiencies.
The partnership will initially launch in more than 20 markets across Europe, the United Kingdom, and Asia, supporting disbursement models including corporate payroll and contractor payments.
“As companies become increasingly global, the complexities of expanding compliantly across international borders also grow. Our partnership with Nium is designed to address these complexities head-on. Payroll is at the heart of any business and our partnership provides customers even greater confidence in their abilities to grow teams that stretch globally and still get paid on time, every time, in their local currency – no matter where they are in the world,” said Job van der Voort, CEO and co-founder at Remote.
With access to Nium’s global real-time payments infrastructure, Remote can provide its clients with multi-currency wallets, allowing funding in more than 20 local currencies and avoiding the hassle of setting up and managing local bank accounts. Live interbank exchange rates can be locked in for up to 24 hours and converted to make cross-border payroll in bulk. Employee and contractor payouts can be sent via flexible payment options to bank accounts, cards, and e-wallets in more than 220 markets and 100-plus real-time corridors around the world.
“If businesses want to stay competitive, it’s crucial that mission-critical payments like payroll don’t just work, but work well,” Nium founder and CEO Prajit Nanu added. “And yet, companies continue to rely on legacy infrastructure or limited cross-border payment solutions to pay their employees and contractors worldwide. After all, payroll isn’t just about money. It’s about employers finding new ways to deepen connections, improve retention, and say thank you to their increasingly diverse and globally dispersed employees. We’re helping Remote deliver this differentiation to its customers and look forward to enabling people and businesses all over the world to realize the full potential of real-time cross-border payments together,”
The global multi-country payroll solutions market is expected to approach $10.5 billion USD by 2030. Much of this growth is concentrated in emerging markets, with the Philippines, Nepal, India, Pakistan, Mexico, Brazil, and Colombia among the top 10 destinations for payroll payments facilitated by Nium in 2023. Today, the fintech company has sent $2 billion USD in payroll payments to 134 countries.
